Crypto community reacts to mainstream media coverage of FTX’s implosion: criticism, misogyny and more

The crypto neighborhood on Twitter is closely criticizing the mainstream media for its poor and biased protection of the collapse of cryptocurrency alternate FTX. 

In a chunk revealed on Nov. 18 by Forbes Journal, the CEO of FTX’s affiliate firm Alameda Research, Caroline Ellison, has been dubbed “Queen Caroline.”

The journal makes an attempt to painting Caroline Ellison in a impartial mild by merely calling her “a math whiz who loves Harry Potter and taking huge dangers.” The journal paints her as “a brand new darling of the alt-right,” which many are merely calling false since former FTX CEO Sam Bankman-Fried and the FTX institution have allegedly been referred to as the second-largest donor to the Democrats after billionaire George Soros.

Members of the crypto neighborhood took to Twitter to specific their disdain at Forbes and different mainstream media shops for his or her protection of FTX’s collapse. Bitcoin educator Dan Held shared in a tweet: “What occurred with FTX wasn’t a “mistake” or “dangerous commerce gone dangerous” it was outright fraud on an unprecedented scale. Insane that mainstream media isn’t slamming Caroline and SBF.”

Market analyst, who goes by the Twitter deal with koreanjewcrypto, shared: “MSM [Mainstream Media] making an attempt to make Sam and Caroline some bizarre sort of martyr is unfathomable to me. It’s simply utterly unacceptable there must be accountability”.

The director of the Princeton Blockchain Membership, Carl Zielinski, shared “NYTimes and Forbes competing to have the WORST piece on the FTX saga conceivable” in response to Forbes’ article on Ellison and The New York Instances’ “puff piece” on Sam Bankman-Fried.

Ryann Wyatt, the CEO of Polygon Studios, shared in response to Forbes Journal: “Alameda Analysis CEO, who dedicated mass fraud and ruined the lives of many individuals in cahoots with SBF” is the extra apt headline.”

Alex, a physics engineer with Twitter deal with ajtourville, shared in a response to Forbes’ article: “Left-wing media are actively downplaying the #FTX multi-billion greenback FRAUD in addition to spearheading a not-so-subtle PR disaster administration marketing campaign for Sam Bankman-Fried & his girlfriend Caroline Ellison.”

Others merely criticized Forbes for making an attempt to painting Ellison as “a brand new darling of the alt-right.” 3D dressmaker @NKdfash shared “How can she presumably be a darling of the alt proper when her scheme actually funded the Democrats? I am so confused”.

Misogyny within the crypto neighborhood

With regards to criticism, some have argued that Ellison could also be on the receiving finish of harsher criticisms and assaults, much more than SBF, the previous CEO of FTX.

On-line, Ellison is dealing with a barrage of misogynist feedback and vile assaults from the male-dominated crypto neighborhood. Her appears to be like and sexuality have been the topic of ridicule and harsh judgment.

Stanford pupil with Twitter deal with TheMichelleBao commented on the misogyny she was witnessing inside the crypto neighborhood, stating: “so many of those tweets about caroline ellison reek of misogyny. is it an excessive amount of to ask for a world the place ladies aren’t disparaged as “ugly” for committing huge monetary fraud and supporting race science and being in a polycule ??”

Person Fandango, who goes by the deal with the_co11ector, shared: “Can we cease with the misogynistic takes on Caroline Ellison, Alameda CEO. If you wish to rip into her, simply spotlight her clear lack of ethics and the best way she’s fucking over your entire area.”

To which account holder Crypto Bin Laden responded: “No one is attacking her as a result of she’s a lady. Persons are attacking her as a result of she’s ugly, however not as a result of she’s a lady”.

Ellison’s appears to be like have been topic to intense ridicule. She’s been known as “fugly,”’ “hideous” and even a “goblin,” and exaggerated caricatured pictures of her proceed to flow into on-line as memes.

Associated: Sam Bankman-Fried rumor mill running amok: Trading course, FBI extradition, FTX hack

On Nov. 17, Cointelegraph reported that FTX and Alameda likely colluded from the very beginning, which in the end contributed to their collapse. Each entities had been created by crypto businessman Sam Bankman-Fried, who’s now being thought-about for extradition by U.S. authorities for his position within the collapse of the alternate.